Credit Notes

Question 1

When a business pays its supplier, what is checked?

Answer 1

Payables ledger account, invoice, credit notes, or statement of account

Question 2

What must be checked prior to sending payment?

Answer 2

Terms and discount

Question 3

What can discrepancies include?

Answer 3

Timing differences, wrong amounts, missing trans, duplicated trans

Question 4

What descrepancies between the suppliers statement of accounts and the payables ledger account must be identified?

Answer 4

Timing differences
Wrong amounts
Missing trans
Duplicated trans